|
Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NHU (HONGKONG) TRADING
CO. LTD. |
|
|
|
|
Registered Office : |
c/o Teamwork Secretarial Co Ltd. 11/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
18.08.2006 |
|
|
|
|
Com. Reg. No.: |
37071600 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No of Employees : |
No employees in Hong Kong It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the
companies are not required to have any employees in Hong Kong nor do have an
office there. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
No Operating Office in Hong Kong |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market
economy, highly dependent on international trade and finance - the value of goods
and services trade, including the sizable share of re-exports, is about four
times GDP. Hong Kong has no tariffs on imported goods, and it levies excise
duties on only four commodities, whether imported or produced locally: hard
alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or
dumping laws. Hong Kong's open economy left it exposed to the global economic
slowdown that began in 2008. Although increasing integration with China,
through trade, tourism, and financial links, helped it to make an initial
recovery more quickly than many observers anticipated, its continued reliance
on foreign trade and investment leaves it vulnerable to renewed global
financial market volatility or a slowdown in the global economy. The Hong Kong government
is promoting the Special Administrative Region (SAR) as the site for Chinese
renminbi (RMB) internationalization. Hong Kong residents are allowed to
establish RMB-denominated savings accounts; RMB-denominated corporate and
Chinese government bonds have been issued in Hong Kong; and RMB trade
settlement is allowed. The territory far exceeded the RMB conversion quota set
by Beijing for trade settlements in 2010 due to the growth of earnings from
exports to the mainland. RMB deposits grew to roughly 12% of total system
deposits in Hong Kong by the end of 2013. The government is pursuing efforts to
introduce additional use of RMB in Hong Kong financial markets and is seeking
to expand the RMB quota. The mainland has long been Hong Kong's largest trading
partner, accounting for about half of Hong Kong's total trade by value. Hong
Kong's natural resources are limited, and food and raw materials must be
imported. As a result of China's easing of travel restrictions, the number of
mainland tourists to the territory has surged from 4.5 million in 2001 to 34.9
million in 2012, outnumbering visitors from all other countries combined. Hong
Kong has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% of the Exchange's market capitalization. During the past decade, as
Hong Kong's manufacturing industry moved to the mainland, its service industry
has grown rapidly. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. Lower and middle income segments of the population are
increasingly unable to afford adequate housing. Hong Kong continues to link its
currency closely to the US dollar, maintaining an arrangement established in
1983. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Your is 20/F. is not correct.
NHU (HONGKONG)
TRADING CO. LTD.
ADDRESS:
Registered Office:-
c/o Teamwork Secretarial Co Ltd.
11/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong Kong.
Immediate Holding Company:-
Zhejiang NHU Co. Ltd., China.
Ultimate Holding Company:-
NHU Holding Group Co. Ltd., China.
Associated Companies:-
Shandong NHU Amino Acid Co. Ltd., China.
Shandong Xinhecheng Pharmacentical Co. Ltd., China.
Shangyu NHU Biochemical Industry Co. Ltd., China.
World Express Inc. Ltd., Hong Kong.
Xinchang NHU Vitamin Co. Ltd., China.
Zhejiang NHU Import & Export Co. Ltd., China.
Zhejiang Nhu Special Materials Co. Ltd., China.
Zhejiang NVB Co. Ltd., China.
Zhejiang Sanpo Polyment Co. Ltd., China.
Zhejiang Vityesini Animal Nutrition & Health Co. Ltd., China.
Zhejiang Xindong Chemical Co. Ltd., China.
Zhejiang Xinhecheng Pharmaceutical Co. Ltd., China.
37071600
1068081
18th August, 2006.
HK$18,720,000.00
(As per registry dated 18-08-2014)
|
Name |
|
No. of shares |
|
Zhejiang NHU Co. Ltd. No, 4, Jiangbei Road, Chengguan Town, Xinchang County, Zhejiang
Province, China. |
|
18,720,000 ======== |
(As per registry dated 18-08-2014)
|
Name (Nationality) |
Address |
|
SHI Guanqun |
No, 4, Jiangbei Road, Chengguan Town, Xinchang County, Zhejiang
Province, China. |
(As per registry dated 18-08-2014)
|
Name |
Address |
Co. No. |
|
Teamwork Secretarial Co Ltd. |
11/F., Hong Kong Trade Centre, 161-167 Des Voeux Road Central, Hong
Kong. |
0248117 |
NHU (Hongkong) Trading Co. Ltd. was incorporated on 18th August, 2006 as
a private limited liability company under the Hong Kong Companies Ordinance.
The subject is a wholly-owned subsidiary of Zhejiang NHU Co. Ltd.
[Zhejiang NHU] which is a China-based and listed company. In turn Zhejiang NHU is a subsidiary company
of NHU Holding Group Co. Ltd. which is also a China-based company.
The director of the subject Mr. Shi Guanqun is a China merchant. He is a China ID holder and does not have the
right to reside in Hong Kong permanently.
He is also the only director of the subject.
Shi Guanqun is also Chief Financial Officer, Vice President and
Secretary of the Director Board of Zhejiang NHU.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at 11/F., Hong Kong Trade Centre, 161‑167 Des Voeux
Road Central, Hong Kong known as Teamwork Secretarial Co Ltd. which is handling
its correspondences and documents. This
company is also the corporate secretary of the subject.
The subject has no employees in Hong Kong.
Established in 1999 and headquartered in Xinchang Zhejiang Province,
Zhejiang NHU is specialized in the production of bulk pharmaceutical chemicals,
medications, health products, food additives, feed additives and flavours and
aromas and it has modern production bases in Xinchang, Meizhu, Shangyu,
Shandong. In 2004, Zhejiang NHU was
listed as the first enterprise in Small-and Medium-sized Enterprises Board in
Shenzhen bearing stock code of 002001.
Zhejiang NHU has a state-level technology centre, a National
Post-doctoral Research & Development Centre, and has developed 13
state-level new products, 12 National Torch Plan Projects, 1 National Key
Technology Research & Development Program, 2 National Science and
Technology Support Programs, 2 National High Technology Research &
Development Program of China (863 Program) and obtained 54 patent licenses. NHU is a Chinese Famous Trademark, and
Vitamin feedstuffs branded NHU is a Chinese Famous Product. In 2011, the new green synthesis process and
industrialization of soluble Vitamins and carotenoid achieved the second prize
of the National Science and Technology Invention Award.
NHU will adhere to the professional way, focus in the field of fine
chemicals.
The subject is also a fine chemical trader.
According to Zhejiang NHU, the followings are the financial highlights
of the subject for the year ended 31st December, 2013:-
The sales turnover of the subject in FY amounted to RMB708.5 million
Yuan, grew by 279.9%.
The subject made a net loss of RMB6.6 million Yuan in in FY 2012 but
made a net profit of RMB27.3 million Yuan in FY 2013.
The sales turnover of the Group for the FY 2013 amounted to RMB4,273.6
million Yuan (2012: RMB3,631.4 million Yuan).
Profit attributable to shareholders amounted to RMB882.1 million Yuan
(2012: RMB850.2 million Yuan).
The subject’s business in Hong Kong is not active. History in Hong Kong is over eight years and
three months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis
or in very small credit amounts.
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
|
|
1 |
Rs.97.02 |
|
Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.